Hybrid AI Law Firm, Crosby, Raises $20m – Cooley Invests

Hybrid AI Law Firm, Crosby, has raised $20m in a Series A funding round. Investors include California-based Cooley – which is interesting given effectively this is an investment in another ‘law firm’, as well as funds such as Index Ventures, Bain Capital Ventures (BCV) and Elad Gil, along with participation from Sequoia Capital.

Only this June they raised $5.8m in a Seed round led by the giant Sequoia (see AL article here).

‘Crosby is a hybrid AI law firm on a mission to fully automate human-to-human negotiations. This funding helps us get there sooner,’ explained co-founder Ryan Daniels.

He went on to add in their announcement: ‘It took us 173 days to review our first 1,000 contracts. Now, we do this every 3 weeks. We’ve never sacrificed our signature speed and still return 90% of requests in a few hours.

‘Each month, 30% more GTM teams partner with Crosby to close deals faster. We’re grateful to support history’s fastest-growing companies like Anysphere, Polymarket and Baseten.

‘The most remarkable thing about Crosby, by far, is our team. Seriously, go stalk our LinkedIn page. They’re the reason I’m positive we will simulate and solve all agreements – an insane computer science puzzle.’

Congrats to them. The news comes as AL has seen a clear uptick in novel legal business models, including Covenant – another hybrid AI law firm, and Eudia buying an ALSP, then creating their own law firm in Arizona.

Exciting times.

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